Statutory Instruments
2005 No. 3474
INCOME TAX
The Income Tax (Building Societies) (Dividends and Interest) (Amendment) Regulations 2005
Made
16th December 2005
Laid before Parliament
19th December 2005
Coming into force
9th January 2006
Citation and commencement
1. These Regulations may be cited as the Income Tax (Building Societies) (Dividends and Interest) (Amendment) Regulations 2005 and shall come into force on 9th January 2006.
Amendment to the Income Tax (Building Societies) (Dividends and Interest) Regulations 1990
2. —(1) Amend the Income Tax (Building Societies) (Dividends and Interest) Regulations 1990( 3 ) as follows.
(2) In regulation 2 after paragraph (3) insert—
“ (4) References in these Regulations to payments of interest in respect of an investment include alternative finance return and profit share return paid or credited under relevant arrangements.
(5) In paragraph (4)—
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“alternative finance return” shall be read in accordance with section 47(6) and (7) of the Finance Act 2005;
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“profit share return” has the meaning given in section 49(2) of the Finance Act 2005;
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“relevant arrangements” has the meaning given in paragraph 1 of Schedule 2 to the Finance Act 2005. ” .
D. A. Hartnett
Paul R. C. Gray
Two of the Commissioners for Her Majesty’s Revenue and Customs
16th December 2005
1988 c. 1 ; section 477A was inserted by paragraph 4 of Schedule 5 to the Finance Act 1990 c. 29
The functions of the Commissioners of Inland Revenue (“the former Commissioners”) were transferred to the Commissioners for Her Majesty’s Revenue and Customs (“the new Commissioners”) by section 5 of the Commissioners for Revenue and Customs Act 2005 (c. 11) . Section 50(1) provides that, so far as appropriate in consequence of section 5, references to the former Commissioners are to be read as references to the new Commissioners.
S.I. 1990/2231 .